1/ Boomers own twice as many large US homes as millennials right now (per Redfin).

And they aren't moving.

It's caused the housing market to become more stuck than it's been in decades.

Let's get into it. 2/ Around 28% of all homes with 3 or more bedrooms are owned by people:

1. Aged between 60-78 years old
2. Living by themselves or with a partner

AKA empty nesters

1/ The Port of Baltimore is responsible for $15 million in economic activity every day.

And the Francis Scott Key Bridge collapse has it closed until further notice.

But what is the economic fallout from losing this key East Coast trade artery?

Let's get into it. 2/ Besides the loss of life and property, the bridge collapse is an economic nightmare.

"The railroads, the trucking industry, the regional distribution centers, commuters, and other segments of the economy," are all being affected, economist Anirban Basu told Business Insider.

1/ Youtuber @MKBHD recently tested Fisker's latest EV and called it the "worst car I've ever reviewed."

The video has picked up 4.3 million views since he posted it and even reached execs at the company.

But things got really weird when Fisker responded. Let's get into it. 2/ Brownlee had initially asked Fisker to give him a vehicle to review, but they kept delaying.

Tired of jumping through hoops, he found a car dealer willing to let him borrow one.

1/ Google has halted its Gemini AI image generator due to historical and racial inaccuracies.

The AI was "missing the mark," per a company statement, after users came forward citing results like Nazi-era German soldiers being depicted as people of color.

Let's get into it. 2/ Google's Gemini AI (formerly Bard) started offering image generation a few weeks ago and is already under fire.

Users have noted that some of the generated images are chock-full of inaccuracy, especially when it comes to race and historical events.

1/People are done paying $18 for a Big Mac combo meal.

Between 2021 and 2022, prices at limited-service restaurants spiked 8%, per the US Bureau of Labor Statistics.

Customers are fed up, and CEOs are finally taking note. Let's get into it. 2/ Fast-food chains hiked prices during COVID to make up for wage increases, supply-chain disruptions, etc.

But now that we're on the other side of the pandemic, consumers are tired of paying top dollar for what used to be the most affordable food options.

The Apple Vision Pro hits stores today

A thread of the coolest use cases we've seen for the $3,500 spatial computer

1. Rodney Mullen's Skatrix

Looks fun as hell

2. NBA League Pass

Watching the Celtics lose in 4 to the Knicks in this is going to be so satisfying

Bird just filed for bankruptcy

• Peak valuation: $2.5 billion
• Current valuation: $1.6 million

This is a company that raised over $500 million.

Truly an all-time destroyer of value. This should have been a sign

A collection of Charlie Munger's best quotes:

1. "Those who keep learning will keep rising in life." 2. "You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long time."

It's Warren Buffett's 93rd birthday

We can't think of a better way to honor the GOAT of investing than with a memorable piece of wisdom for every year he's been alive

93 of the Oracle of Omaha's best quotes 1. "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."

Remember the ship that blocked the Suez Canal in 2021, clogging a vital trade passageway for as much as 12% of the world’s seaborne trade?

Well, we may have a similar situation on our hands in the Panama Canal 👇 🧵 A drought at Gatun Lake, which feeds the Panama Canal, has caused water levels to drop significantly.

If it persists, it poses a threat to the recent alleviation of global delivery bottlenecks, potentially causing a surge in shipping costs, consumer demand, & goods shortages.

Yesterday was the biggest day for Apple since the launch of the iPhone

• iOS17
• Vision Pro
• Spatial Computing

Here's a recap of everything that went down at #WWDC23 1. Vision Pro is here

• Cost: $3,499
• 7x as much as Meta Quest 3

Listen to the crowd react to the price lol

In a massive victory for the #MeToo movement, the Senate passed a landmark bill yesterday that bans companies from using forced arbitration to handle sexual assault and harassment cases.

A thread. The backstory:

60 million workers in the US are required by their contracts to settle any sexual misconduct case in private arbitration rather than taking it to court.

After 50+ hours of deliberations and seven days, a jury found Theranos founder Elizabeth Holmes guilty on four charges of criminal fraud yesterday.

A thread on the trial and the woman behind it all. Holmes was convicted of three counts of wire fraud and one count of conspiracy to commit wire fraud.

She was found not guilty on four other charges and the jury couldn’t agree on a verdict for three charges.

The 2021 stock market was bookended by meme stock mania in January and a brief Omicron scare in November and December. But in between, it was a remarkably smooth ride.

Here's a look back at the year that was for stocks. If you followed Warren Buffett’s advice and put your money in an S&P 500 index fund, you did very well for yourself last year. The broad index gained 27% in 2021 and closed at a record 70 times—the most since 1995.

We were poking through our year-end data to figure out the content you all liked the most.

Let us just say, you all have wonderful taste.

Here are our top 5 most clicked articles of the year. 1. Explaining our markets section at the top of every newsletter

morningbrew.com/daily/stories/…

Vaccination rates are rising, rent is increasing, and our spending habits are changing once again.

So should your budget.

A thread on how to reassess and adjust your budget for the new year. Budgeting is about aligning your spending with your values.

When you track where your money is going, it’s easier to assess whether you’re doing your absolute best to make your money work for you...or not.

BJ Novak stock image mug is now for sale.

We hope @bjnovak stays too amused to do anything about it. shop.morningbrew.com/products/stock…

In the doge-eat-doge world of meme coins, there’s a new alpha.

Thanks to a parabolic rally over the past few weeks, $SHIBA has leapfrogged dogecoin to become the ninth-most valuable crypto in the world.

Here's the backstory...and how it could save Robinhood. This is not a typo.

Shibu has gained nearly 1,000% in the last month and more than 90,000,000% in the past year.

90. Million. Percent.

This wallet bought roughly $8,000 of $SHIB last August.

It's now worth $5.7 billion.

From $8,000 to $5.7 billion in roughly 400 days.

We may actually be looking at the greatest individual trade of all time. Link to the wallet: etherscan.io/address/0x1406…

We're 300 followers away from flipping
@RampCapitalLLC

Let's get it done today, everyone.

#TeamBrew @RampCapitalLLC Less than 100 away 👀

Elon Musk is really really rich.

So rich that some Democrats have floated a “billionaire’s tax” to make Musk and his Perrier-drinking peers send a lot more of that wealth to the government.

A thread on what the "billionaire's tax" is. The proposal is an attempt to raise billions in revenue to offset the costs of Democrats’ ~$1.75 trillion spending bill.

It’s...extremely unusual.